'Anmol Effect' has brought good luck to R-Cap shares: Ambani

Introducing son Anmol as a new director on Reliance Capital's board, Chairman Anil Ambani on Tuesday said he has brought "tremendous luck" with a 40 per cent surge in share price since his induction and hoped that the 'Anmol Effect' will continue further. Thanking the shareholders at the company's Annual General Meeting for their "vote of confidence" in 24year-old Anmol's appointment as an Executive Director, Ambani said his son is "part of this younger demography and will relate to the future customers, shareholders, employees as well as the other stakeholders of Reliance Capital".

Noting that half of India's population is under the age

of 30 years, he said the average age of Reliance Capital employees is 34 years.

"Anmol has brought tremendous luck as the stock price rose by 40 per cent since his induction in the board and has added to the value creation for our shareholders. I hope and I

am confident that the 'Anmol Effect' will continue, based on the improved performance, growth and teamwork," the Chairman said.

Anmol, who has a degree from Warwick Business School in the UK, joined the board of Reliance Capital as an additional director a little over one month ago on August 23 after two years of training at the company. Reliance Cap stock was trading over 1 per cent higher at close to Rs 575 apiece, marking a significant surge from near Rs 467 each before Anmol was a appointed to the board.